Profund Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 67.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,073 shares of the biopharmaceutical company’s stock after purchasing an additional 31,160 shares during the period. Profund Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $2,059,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the last quarter. iSAM Funds UK Ltd bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $93,000. PNC Financial Services Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 11.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 534 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of ACADIA Pharmaceuticals by 161.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,149 shares of the biopharmaceutical company’s stock valued at $164,000 after purchasing an additional 3,795 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on ACAD shares. Wolfe Research started coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price objective for the company. Stifel Nicolaus decreased their price target on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Citizens Jmp increased their price target on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research note on Thursday, February 26th. Citigroup decreased their price target on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, TD Cowen increased their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.63.
Insiders Place Their Bets
In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,332 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $29,024.28. Following the transaction, the insider directly owned 29,129 shares of the company’s stock, valued at $634,720.91. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the transaction, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,577 shares of company stock worth $188,426 over the last ninety days. 26.20% of the stock is currently owned by company insiders.
ACADIA Pharmaceuticals Stock Down 1.0%
ACAD opened at $20.48 on Wednesday. The stock has a fifty day moving average of $21.76 and a 200-day moving average of $23.88. The firm has a market capitalization of $3.51 billion, a P/E ratio of 9.31, a PEG ratio of 25.05 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $268.10 million during the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. ACADIA Pharmaceuticals’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 EPS. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.
The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.
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